Elimination of One-Off Costs and Cost Improvements in the Overseas Business
First written in FY2019-Q2. 8 of 24 entries say "Advanced", first in FY2019-Q3. Latest entry: FY2026-H1.
Open Up Group moved to the "Worse" side of this theme in 2026.
The whole theme swung hardest in 2025: 1 of 7 companies on the "Worse" side.
0 other companies' latest entry also says "Reframed".
- FY2026-H1ReframedAnnual report
「During the six months ended [the interim period], the Group sold its UK business in the third quarter of the previous consolidated fiscal year in order to concentrate its portfolio on the engineering field, while pursuing growth and earnings in China and other parts of Asia. As a result, revenue from this segment for the six months ended [the interim period] was ¥323 million, down 98.5% year on year, and segment profit was ¥148 million, down 71.9%.」
The focus was reorganized from the previous overseas improvement themes, centered on the elimination of temporary costs and cost improvements in the UK business, to a structure aimed at achieving growth and securing profitability in Asia, including China, following the sale of the UK business. - FY2025-H1Profit growth from income from equity-method investmentsAnnual report
「During the interim consolidated accounting period, inflation in the UK was temporarily easing, but there were signs that price pressures were beginning to re-emerge, while the economy remained stagnant with the possibility of a recession. Even in this environment, revenue increased on a sterling basis as a result of order-winning activities, including steady efforts to develop new customers. In terms of profit, the profit margin declined as the temporary boom in the high-margin referral business came to an end and inflation drove up expenses and personnel costs, but income from equity-method investments contributed. As a result, revenue for this segment during the interim consolidated accounting period was ¥22,220 million, up 18.3% year on year, while segment profit was ¥528 million, up 20.4% year on year.」
In the UK, revenue increased on a sterling basis due to efforts to develop new customers and other factors, while the profit margin declined as the temporary boom in the referral business came to an end and inflation drove up expenses and personnel costs. Income from equity-method investments contributed, and segment profit in the overseas operations increased 20.4% year on year. - FY2024Overseas revenue increased, but the decline in profit margins continuedAnnual report
「During the consolidated fiscal year, although inflation in the UK was easing, the economy remained weak with the possibility of a recession. As a result of order-winning activities, including steady efforts to develop new customers, revenue increased even on a sterling basis. In terms of profit, the profit margin declined as the temporary boom in the high-margin referral business came to an end and inflation drove up expenses and personnel costs. As a result, revenue for this segment during the consolidated fiscal year was ¥35,514 million, up 22.6% year on year, while segment profit was ¥570 million, up 3.8% year on year.」
The company continued developing new customers in the UK, and revenue from overseas operations was ¥35,514 million, up 22.6% year on year. Meanwhile, the profit margin declined as the boom in the referral business came to an end and inflation drove up expenses and personnel costs. - FY2024-Q3Foreign-ex exchange-driven revenue growth expanded, while the end of the referral business boom and inflation reduced profitAnnual report
「During the cumulative consolidated third quarter period, although inflation in the UK had passed its peak, the economy remained weak. As a result of order-winning activities, including steady efforts to develop new customers, revenue increased even on a sterling basis and, due to exchange-rate movements, increased substantially on a yen basis. In terms of profit, profit declined as the temporary boom in the high-margin referral business came to an end and inflation drove up expenses and personnel costs. As a result, revenue for this segment during the cumulative consolidated third quarter period was ¥26,477 million, up 22.0% year on year, while segment profit was ¥453 million, down 31.3% year on year.」
In the overseas operations, revenue increased even on a sterling basis due to efforts to develop new customers and other factors, while revenue on a yen basis, including the foreign-exchange impact, increased 22.0% year on year. Meanwhile, profit declined 31.3% as the temporary boom in the referral business came to an end and inflation drove up expenses and personnel costs. - FY2024-Q2Revenue benefited from foreign exchange, but profit declined as the recruitment boom ended and inflation weighed on resultsAnnual report
「During the cumulative consolidated second quarter period, although inflation in the UK had passed its peak, the economy remained weak. As a result of order-winning activities, including steady efforts to develop new customers, revenue increased slightly on a sterling basis and, due to exchange-rate movements, increased substantially on a yen basis. In terms of profit, profit declined as the temporary boom in the high-margin referral business came to an end and inflation drove up expenses and personnel costs. As a result, revenue for this segment during the cumulative consolidated second quarter period was ¥18,789 million, up 19.8% year on year, while segment profit was ¥439 million, down 32.4% year on year.」
In the UK business, revenue increased 19.8% year on year, supported by efforts to develop new customers and the impact of foreign exchange. Meanwhile, segment profit declined 32.4% as the temporary boom in the high-margin referral business came to an end and inflation drove up expenses and personnel costs. - FY2024-Q1ReframedAnnual report
「During the cumulative period of the first quarter, although inflation had passed its peak in the UK, economic growth remained weak. As the company prioritized profitability in its order-winning policy, revenue in pound terms was broadly flat, but exchange-rate movements resulted in higher revenue in yen terms. On the profit side, the temporary boom in the high-margin recruitment business had ended, but the profitability-focused policy limited the decline in the profit margin. As a result, the segment recorded revenue of ¥8,988 million, up 19.0% year on year, and segment profit of ¥217 million, up 6.0% year on year.」
In the overseas segment, the company explicitly prioritized order profitability over revenue growth, keeping revenue broadly flat in pound terms while limiting the decline in the profit margin. - FY2023-Q3RestatedAnnual report
「On the profit side, demand for direct hiring increased as demand for labor recovered, and the high-margin recruitment business performed well, maintaining the business's underlying profit margin. However, the gain on the sale of shares in MTrec recognized in the previous consolidated fiscal year fell out. As a result, the segment recorded revenue of ¥21,702 million, down 5.3% year on year, and segment profit of ¥547 million, down 26.5% year on year, during the cumulative period of the third quarter.」
The UK business maintained its underlying profit margin due to strong performance in the recruitment business, but revenue and segment profit fell below the same period of the previous year because of weak staffing revenue and the absence of the gain on the sale of MTrec shares recognized in the previous period. - FY2023-Q2Revenue and profit declined amid a slowing UK economy, but operating profit margin improvedAnnual report
「In the UK, demand for labor recovered temporarily during the summer, but economic activity slowed toward year-end due to rising prices and higher interest rates. Staffing revenue during the busy season before Christmas was weak, resulting in lower revenue despite a yen-based boost from the weaker yen. On the profit side, demand for direct hiring increased as demand for labor recovered, and the high-margin recruitment business performed well, improving the business's underlying profit margin. However, the gain on the sale of shares in MTrec recognized in the previous consolidated fiscal year fell out. As a result, the segment recorded revenue of ¥15,681 million, down 3.8% year on year, and segment profit of ¥566 million, down 13.2% year on year, during the cumulative period of the second quarter.」
The high-margin recruitment business performed well as demand for direct hiring increased, improving the business's underlying profit margin, but the overseas segment recorded lower revenue and profit due to the slowing UK economy and the absence of the gain on the sale of shares recognized in the previous period. - FY2023-Q1Overseas revenue and profit declined amid labor supply constraintsAnnual report
「During the three-month period ended the first quarter, demand for human resources recovered in the UK after the COVID-19 pandemic subsided. However, the completion of Brexit constrained the procurement of labor from Europe, causing a supply shortage in the human resources market and reducing revenue from the staffing business. On the profit side, the high-margin employment-placement business performed well as demand for direct hiring increased amid efforts by customers to secure human resources, but the gain on the sale of shares in MTrec's subsidiary recorded in the previous fiscal year was no longer recognized. As a result, segment revenue for the three-month period ended the first quarter was ¥7,550 million, down 6.3% year on year, and segment profit was ¥173 million, down 59.2% year on year.」
Although the recruitment business performed well in the overseas segment, revenue and segment profit declined due to supply constraints in the staffing business and the absence of the gain on sale of shares recognized in the previous period. - FY2022Recruitment costs and other expenses weighed on profit despite demand recoveryAnnual report
「Profit declined as the decrease in workers from outside the UK due to Brexit increased recruitment costs, the end of public subsidies provided since the previous year weighed on profit, and impairment losses were recognized on goodwill and intangible assets arising from purchase price allocation.」
In the UK business, demand for staffing and recruitment recovered, but higher recruitment costs due to declining worker numbers, the end of public subsidies and impairment losses weighed on profit. - FY2022-Q3RestatedAnnual report
「During the cumulative period of the third quarter, demand for staffing and fee-based recruitment in the UK continued to recover as the impact of COVID-19 declined. Meanwhile, Brexit reduced the number of workers from outside the UK, resulting in higher recruitment costs, while the end of public subsidies provided since the previous year also weighed on profit.」
In the UK, demand for staffing and fee-based recruitment continued to recover, while declining worker numbers associated with Brexit, higher recruitment costs and the end of public subsidies continued to weigh on profit. - FY2022-Q2Demand recovery coexisted with cost pressuresAnnual report
「During the cumulative period of the second quarter, demand for staffing and fee-based recruitment in the UK continued to recover as lockdown restrictions were eased. Meanwhile, labor shortages caused by the COVID-19 pandemic and Brexit increased recruitment costs, while the end of public subsidies provided since the previous year also weighed on profit.」
Demand recovery continued in the UK, and overseas-segment profit increased 51.5% year on year, but higher recruitment costs due to labor shortages and the end of public subsidies weighed on profit. - FY2022-Q1AdvancedAnnual report
「During the cumulative period of the first quarter, demand for staffing and other human resources services, including fee-based recruitment, showed a recovery trend as lockdown restrictions in the UK were gradually eased. In addition, to unify the fiscal year-end of UK operating companies from the end of March with the group's fiscal year-end at the end of June, the results for the 6 months from April through September 2021 were recorded in the cumulative period of the first quarter. As a result, the segment recorded revenue of ¥16,137 million, up 213.3% year on year, and segment profit of ¥106 million, up 260.1% year on year.」
Demand recovered in the UK, and the results for 6 months following the change in fiscal year-end were also included. Overseas-segment revenue increased 213.3% year on year, and segment profit increased 260.1%. - FY2021UK business recovery coexisted with continued weakness in the recruitment businessAnnual report
「During the consolidated fiscal year, the UK experienced a sharp market contraction due to lockdowns from the beginning of the period, but demand continued to recover toward the second half of the fiscal year, particularly in the staffing business. However, the recruitment business, which makes a significant contribution to profit, remained weak as client companies continued to take a cautious stance.」
In the UK business, demand for staffing recovered, while weakness in the highly profitable recruitment business continued. Revenue declined 1.9% year on year and segment profit declined 90.3%. - FY2021-Q3Continued improvement measures failed to offset weakness in the recruitment business, resulting in lower profitAnnual report
「Profit was affected by lower goodwill amortization following the recognition of a goodwill impairment loss in the previous consolidated fiscal year. Although the company also pursued fixed-cost reductions and other measures, these efforts did not offset the decline in revenue, particularly the weakness in the recruitment business, which makes a significant contribution to profit. As a result, the segment recorded revenue of ¥20,656 million, down 9.1% year on year, and segment profit of ¥61 million, down 74.5% year on year, during the cumulative period of the first 3 quarters.」
Although the company continued reducing fixed costs and goodwill amortization also declined, these measures failed to offset lower revenue and weakness in the recruitment business, resulting in a 74.5% year-on-year decline in overseas-segment profit. - FY2021-Q2RestatedAnnual report
「During the 6-month period ended [the current quarter], the UK lockdown caused a substantial decline in demand for labor. In response, we reduced fixed costs and utilized government support. In addition, after carefully assessing the future earnings of the UK business, we recorded an impairment loss on goodwill as an extraordinary loss in the previous consolidated fiscal year, reducing goodwill amortization. As a result, revenue was ¥12,093 million (down 16.9% year on year) and segment profit was ¥165 million (up 17.0% year on year).」
The UK business continued reducing fixed costs and utilizing public support, and segment profit increased 17.0% year on year despite declining revenue. - FY2021-Q1AdvancedAnnual report
「During the first quarter consolidated cumulative period, the UK lockdown caused a substantial decline in demand for labor. In response, we reduced fixed costs and utilized government support. In addition, after carefully assessing the future earnings of the UK business, we recorded an impairment loss on goodwill as an extraordinary loss in the previous consolidated fiscal year, reducing goodwill amortization. As a result, revenue was ¥5,150 million (down 29.2% year on year) and segment profit was ¥29 million (up 31.5% year on year).」
The UK business continued reducing fixed costs and utilizing public support, and segment profit increased 31.5% year on year despite declining revenue. - FY2020AdvancedAnnual report
「During the consolidated fiscal year, Brexit was debated and the decision was made to leave the EU, affecting some businesses of the UK subsidiaries. However, staffing businesses in domestic-demand sectors such as food and logistics remained solid, limiting the decline in revenue to 2.5% year on year in pound terms. In yen terms, the substantial decline in the pound resulted in revenue of ¥28,845 million, down 7.5% year on year. In addition, the elimination of one-time expenses related to the acquisition of shares in the UK in the previous consolidated fiscal year, reduced goodwill amortization, and a focus on winning and executing orders with high profit margins resulted in segment profit of ¥298 million, up 28.8% year on year.」
Although the UK business's revenue in yen terms declined, the elimination of acquisition-related one-time expenses, reduced goodwill amortization, and a focus on high-margin orders and assignments resulted in segment profit of ¥298 million, up 28.8% year on year. - FY2020-Q3AdvancedAnnual report
「In addition, the elimination of one-time expenses related to the acquisition of shares in the UK in the previous fiscal year and strengthened cost controls resulted in segment profit of ¥255 million, up 11.5% year on year.」
In the UK business, the elimination of acquisition-related one-time expenses and strengthened cost controls resulted in overseas-segment profit of ¥255 million, up 11.5% year on year. - FY2020-Q2AdvancedAnnual report
「During the cumulative period of the second quarter, the UK business generated higher revenue in local-currency terms, but the substantial decline in the pound resulted in lower revenue in yen terms, with revenue of ¥14,564 million, down 4.9% year on year. Meanwhile, the elimination of one-time expenses related to the acquisition of shares in the UK business in the previous fiscal year and continued cost improvement resulted in segment profit of ¥141 million, up 79.3% year on year.」
Although the UK business's revenue in yen terms declined, continued elimination of one-time expenses and cost improvements resulted in overseas-segment profit of ¥141 million, up 79.3% year on year. - FY2020-Q1AdvancedAnnual report
「During the cumulative period of the first quarter, the contribution from the results of UK staffing company Quattro Group Holdings Limited, which became a subsidiary in August 2018, and the elimination of one-time expenses resulted in revenue of ¥7,278 million, up 7.2% year on year, and segment profit of ¥22 million, compared with a segment loss of ¥74 million in the same period of the previous year.」
The contribution from Quattro Group Holdings Limited and the elimination of one-time expenses resulted in overseas-segment revenue of ¥7,278 million and segment profit of ¥22 million, turning a ¥74 million loss in the same period of the previous year into a profit. - FY2019AdvancedAnnual report
「The full-year contributions from the newly acquired UK staffing company Quattro Group Holdings Limited and UK staffing company Gap Personnel Holdings Limited, whose shares were acquired in the previous fiscal year, together with the absence of one-time expenses and efforts to improve costs, resulted in segment revenue of ¥31,308 million for the fiscal year (up 42.5% year on year) and segment profit of ¥231 million (segment loss of ¥118 million in the same period of the previous year).」
The company continued eliminating one-time expenses and improving costs, turning the overseas segment's ¥118 million loss in the same period of the previous year into a ¥231 million profit. - FY2019-Q3AdvancedAnnual report
「During the cumulative period of the first 3 quarters, the impact of making Quattro Group Holdings Limited, whose shares were acquired in August 2018, a subsidiary, together with the elimination of one-time expenses and efforts to improve costs, resulted in revenue of ¥24,180 million, up 53.3% year on year, and segment profit of ¥273 million, compared with a segment loss of ¥49 million in the same period of the previous year.」
In addition to making Quattro Group Holdings Limited a subsidiary, the company continued efforts to eliminate one-time expenses and improve costs. The overseas segment recorded revenue of ¥24,180 million and segment profit of ¥273 million, turning a ¥49 million loss in the same period of the previous year into a profit. - FY2019-Q2First statedAnnual report
「During the six-month period, the impact of making Quattro Group Holdings Limited, whose shares were acquired in August 2018, a subsidiary, together with the absence of one-time expenses and efforts to improve costs, resulted in revenue of ¥15,317 million, up 75.8% year on year, and segment profit of ¥104 million, compared with a segment loss of ¥69 million in the same period of the previous year.」
In the overseas segment, the company made Quattro Group Holdings Limited a subsidiary, while continuing efforts to eliminate one-time expenses and improve costs, turning the prior-year period's segment loss into a ¥104 million profit.